Square Cash App Reveals Why Payments Were Pending

The company suffered from some issues.

Square’s Cash App suffered from performance issues this week, as the company struggled on Wednesday and Thursday to process payments quickly. The money transfer app, which recently expanded to support bitcoin trades, suffered from sluggish performance.

“We know customers rely on Cash App for fast, easy access to funds, and we’re so sorry for any inconvenience yesterday’s issues caused,” a company spokesperson tells Inverse. “It’s unacceptable and we must do better.”

Square, headed by Twitter CEO Jack Dorsey, introduced the Cash app as a way of transferring money between people. The app competes with ventures like Venmo and PayPal for convenient transfers, an area that has been disrupted in recent years by the emergence of decentralized cryptocurrency payments. The app had around three million users in the United States in July 2017.

The company notes this week’s slow performance was due to traffic issues. Providing regular updates on management, Square noted that all issues relating to the Cash app were resolved by 9:30 p.m. Pacific time. However, the delay in payment transfers led to a number of users weighing in on the company’s official Twitter page:

Yea what's up with y'all my friend sent me money this morning it took it out his account and I have yet to receive it

Personally I’m okay, but this wasn’t just an inconvenience for a lot of people. How do you plan on helping to remedy this for people who needed their money by today and now they will have to either pay a fee or wait until Monday? An empty apology doesn’t cut it.

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While users in most U.S. states can take advantage of bitcoin buys, this rollout has been slow because of stricter state-specific regulations in New York, Georgia, Hawaii, and Wyoming. The company added support for Wyoming earlier this month, and it’s seeking a BitLicense to start trades in New York as well. Square is openly embracing cryptocurrency support as it sees potential for the technology to open up its products to a broader market.

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